Comparing Brokers (#12)

This week trials comparing the broker by using multiple pairs, namely using the AUDUSD, EURUSD, GBPUSD, EURJPY, USDCAD, USDCHF, and USDJPY produced as follows:

When comparing the test last week that only uses the EURUSD produce GoMarkets and FXCBS Zero Commission as a retail brokerage account option, then for this week only GoMarkets who survived. While FXCBS ranking dropped from first rank to rank 11.

It can be concluded that FXCBS only good for EURUSD only, but once used multiple pairs, besides the EURUSD pair turned out to have higher spreads than other brokers. This is what causes FXCBS down the rankings.

The best for this week is GoMarkets and FxPro, where the broker provides both high leverage up to 1:500 and the minimum deposit required was not great.

Alpari Pro Account is not selected due to requiring a large deposit of USD 20 thousand. As with FXOpen ECN and ECN FinFX which requires a deposit USD 1000 and USD 2500. While the FX Pepperstone not chosen because of his ping above 350 ms, where it indicates that the broker server response is slow which later can result in delays execution of the transaction.

Detailed comparison trials that have been grouped according to each pair are as follows:

Comparing the above is done by using 39 data on the pair of transactions that are divided as follows:
- AUDUSD, 4 transactions
- EURUSD, 12 transactions
- GBPUSD, 8 transactions
- EURJPY, 4 transactions
- USDCAD, 4 transactions
- USDCHF, 6 transactions
- USDJPY, a transaction

Based on the results of the above comparisons, it appears that GoMarkets and FxPro very good especially on the AUDUSD, EURUSD, and GBPUSD, but very poorly on USDJPY and USDCHF. However, overall 2 retail brokers that help make the biggest profit compared to other brokers.

Keep in mind about FxPro, as ever was written on the article Comparing Brokers (# 11) , FxPro since last week banned the use of EA, especially aggressive. Therefore, if you want to use the EA in trading then it's better to avoid FxPro.

While GoMarkets can generate more profit than other brokers because the spreads are very low. This is possible because the broker is a broker STP (Straight Through Processing) as written on his website.

For the first time what it says on the website of the broker in accordance with the facts:)

In the previous article, Comparing Brokers (# 3) , written about FXDD MtXterme a minimum deposit of USD 5,000 should be promoted on its website that the spread will be much smaller. But from the fact the previous benchmarking tests results show the contrary, the spreads are very large. In this trial also showed that MtXterme and FXDD FXDD Malta ranks lowest.

FXDD, FXOpen, FxPro, Forex.com, TADAWUL, Alpari Standard Account is Dealing Desk broker, where its spread is likely to be high. Surprisingly only FxPro, although Dealing Desk broker but applying low spreads like STP or ECN broker.

For those who do not yet understand the kinds of brokers, please read the article market Maker & ECN Brokers and Brokers Type .

Simply put, Dealing Desk Brokers is a bit like dealing with Money Changer, which is to buy or sell against the owner of the Money Changer. While STP or ECN broker is much like a stock broker, that broker is only acting as a middleman, just forward sale and purchase orders to the exchange (the bank) and do not do transactions against the trader.

Next week trial will resume benchmarking which will be fully used robots (EA) in performing entry-exit. With the use of robots, consistency and accuracy expected exit timing of entry can be more awake, so the final result will also be more accurate comparisons.